7013 pts ยท March 26, 2018
i talk about tax too much.
No. The neighborhood and park at the end are both in Anderson. He is my brother's neighbor, recognize the green car.
Can confirm. This is my hometown. What is rich there is average or poor most other places. It's why I left, to be honest. Lol
Note: in order for the IRS to be able to seize assets, those assets pretty much have to be in the US. Outside US = out of IRS's reach.
Penalties already exist. Statute of limitations exist for a reason as well. Making the penalties too high would only ensure IRS gets nothing
These multinational companies would never repatriate it so the IRS would never have a chance at it. And the increases in monetary 2/
As I said, more penalties only encourages more hiding. If it were as you want, then that money would never be seen in the US again. 1/
Execs more than 30x avg company salary, change/get rid of NOL carries, fund the damn IRS, and raise corp & partnership tax rates.
Tax (OECD's Pillar 2), comms btw gov'ts about foreign owned assets w/o treaty, shell/corp transparency acts, surtaxes on corps that pay 2/
As someone who does this kind of tax for a living, prison time will only encourage more hiding. Global min tax addresses BEPS, digital 1/
50 shell corps might be misleading. Would have to look into it but this is all common place in tax. Other corps do far worse.
Nothing in the article was evasion. Avoidance, yes but that's 100% legal w/ no penalties. It's all pretty standard corp tax planning. 1/
Yeah, the names are goofy sometimes. Civil carries less penalties, but it doesn't require "beyond reasonable doubt" to prove the case.
Those cases need to be pretty damning and convincing. Idk enough about Trump's tax activity to speak on if that will apply here tho. 3/3
situations where limitations are suspended though. Usually need TP's consent, but IRS can move forward without consent if fraud suspected /2
You would be charged for all of it, as long as the act that happened 5 years ago was within the statute of limitations. There are other 1/?
Tax CPA here. Civil fraud has no limitation. Criminal is usually 3-6 years after last evasion act (US v Irby is main auth for it nowadays)
That is the first time I have ever heard EY referred to as a major tax company. You're not wrong though lol
We're all crying rn. And thank you, Earl is the best
Amazon Smile is their workaround for this. They get a deduction for what is ordinary course of business because it is charitable contrib.
Also, the law supercedes the wishes of the deceased in these cases.
In the US, it is illegal (see: abuse of a corpse). Penalties vary between states, but usually involve loss of license. Advice: don't do it.
of cancer has been mostly attributed to imaging technology and medical testing making it easier for early detection. 2/2
There are no known cures for any type of cancer. There are only treatments. The reason why survival rates have increased for most types 1/?
Forgot to add, the reason US incorp companies will stay here is almost solely for tax purposes.
they are "fucked with." 6/6.
The US typically is just more beneficial than anywhere else and therefore, companies that are here tend to stay here and not gtfo if 5/?
The US and are typically required to abide by US law in all of their branches on top of local law. But back to it, being incorporated in 4/?
This is called segmenting. In cases like that, only Corp US is subject to US law. In the case of Blizzard, they are incorporated only in 3/?
They consider themselves a global corporation. In some cases the company will just be split up and have like Corp US, Corp EU, Corp Asia 2/?
No. The neighborhood and park at the end are both in Anderson. He is my brother's neighbor, recognize the green car.
Can confirm. This is my hometown. What is rich there is average or poor most other places. It's why I left, to be honest. Lol
Note: in order for the IRS to be able to seize assets, those assets pretty much have to be in the US. Outside US = out of IRS's reach.
Penalties already exist. Statute of limitations exist for a reason as well. Making the penalties too high would only ensure IRS gets nothing
These multinational companies would never repatriate it so the IRS would never have a chance at it. And the increases in monetary 2/
As I said, more penalties only encourages more hiding. If it were as you want, then that money would never be seen in the US again. 1/
Execs more than 30x avg company salary, change/get rid of NOL carries, fund the damn IRS, and raise corp & partnership tax rates.
Tax (OECD's Pillar 2), comms btw gov'ts about foreign owned assets w/o treaty, shell/corp transparency acts, surtaxes on corps that pay 2/
As someone who does this kind of tax for a living, prison time will only encourage more hiding. Global min tax addresses BEPS, digital 1/
50 shell corps might be misleading. Would have to look into it but this is all common place in tax. Other corps do far worse.
Nothing in the article was evasion. Avoidance, yes but that's 100% legal w/ no penalties. It's all pretty standard corp tax planning. 1/
Yeah, the names are goofy sometimes. Civil carries less penalties, but it doesn't require "beyond reasonable doubt" to prove the case.
Those cases need to be pretty damning and convincing. Idk enough about Trump's tax activity to speak on if that will apply here tho. 3/3
situations where limitations are suspended though. Usually need TP's consent, but IRS can move forward without consent if fraud suspected /2
You would be charged for all of it, as long as the act that happened 5 years ago was within the statute of limitations. There are other 1/?
Tax CPA here. Civil fraud has no limitation. Criminal is usually 3-6 years after last evasion act (US v Irby is main auth for it nowadays)
That is the first time I have ever heard EY referred to as a major tax company. You're not wrong though lol
We're all crying rn. And thank you, Earl is the best
Amazon Smile is their workaround for this. They get a deduction for what is ordinary course of business because it is charitable contrib.
Also, the law supercedes the wishes of the deceased in these cases.
In the US, it is illegal (see: abuse of a corpse). Penalties vary between states, but usually involve loss of license. Advice: don't do it.
of cancer has been mostly attributed to imaging technology and medical testing making it easier for early detection. 2/2
There are no known cures for any type of cancer. There are only treatments. The reason why survival rates have increased for most types 1/?
Forgot to add, the reason US incorp companies will stay here is almost solely for tax purposes.
they are "fucked with." 6/6.
The US typically is just more beneficial than anywhere else and therefore, companies that are here tend to stay here and not gtfo if 5/?
The US and are typically required to abide by US law in all of their branches on top of local law. But back to it, being incorporated in 4/?
This is called segmenting. In cases like that, only Corp US is subject to US law. In the case of Blizzard, they are incorporated only in 3/?
They consider themselves a global corporation. In some cases the company will just be split up and have like Corp US, Corp EU, Corp Asia 2/?